DUBLIN--(BUSINESS WIRE)--The "Maritime Satellite Communication Market by Component (Solutions and Services), Solution (VSAT and MSS), Service (Tracking and Monitoring, Voice, Video, Data), End User (Merchant Shipping, Offshore, Government), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global maritime satellite communication market is expected to reach USD 3,251 million by 2025, growing at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period.
The escalating need for enriched data communication to improve operation efficiency, on-board security, and surveillance, and employee/passenger welfare in the maritime industry is driving the market. Furthermore, The major factor driving the maritime satellite communication market is the need to attain improved connectivity between the land and sea operations and realizing benefits in faster repair times, preventative maintenance, fuel-saving, and real-time navigation.
Solutions segment to lead the maritime satellite communication market in 2020
As more and more commercial and government mariners are moving toward deploying satellite-based communication services, absolute communication technology is required. Solutions comprise two types of marine satellite communication VSAT and MSS. The players in the maritime satellite communication market are moving from MSS towards VSAT to offer clients with affordable communication services and increased bandwidth. Modernizing ship management systems to improve engine and systems maintenance, navigation, weather information, and cargo tracking is gaining momentum in maritime VSAT applications.
Merchant shipping segment among end-user to lead the maritime satellite communication market in 2020
Merchant shipping is mainly used for carrying passengers or cargo for commercial purposes. Owing to the necessity to operate ships efficiently, enhance overall business operation, and ensure crew loyalty and satisfaction, the crew owners are increasingly deploying maritime satellite communication systems. In recent years, satellite communication technology has become advanced, which enables ships to communicate through satellite links from anywhere globally without the help of a specialist radio officer. This technological advancement helps merchants gain higher profit through reliable communication services that maintain operational efficiency.
APAC to lead the maritime satellite communication market in 2020
The maritime satellite communication market in APAC is the largest in terms of market size and is highly fragmented based on multi-currencies and multi-languages. The region comprises a diverse range of countries, from economically and technologically advanced countries, such as the UK and Germany, to severely debt-ridden countries, such as Greece and Austria. The UK, Poland, Spain, and Germany are the leading countries in the European maritime satellite communication market. The total contactless spending has grown in these countries with the increasing circulation of contactless cards and terminals by card companies, such as Visa and Mastercard.
Research Coverage
The report segments the global maritime satellite communication market by component(solutions and services), Very Small Aperture Terminal (VSAT), end-user, and region. The report includes an in-depth competitive analysis of key players in the maritime satellite communication market, along with their company profiles, recent developments, and key market strategies.
Major vendors in the global maritime satellite communication market include Inmarsat (UK), Iridium Communications (US), Thuraya (UAEHughes Network Systems (US), KVH Industries (US), Viasat (US), Speedcast (Australia), ST Engineering (Singapore), NSSLGlobal (England), Marlink (France), ORBOCOMM (US), Navarino (Greece), Network Innovations (Canada), GTMaritime (England), AST Group (UK), Isotropic Networks (Wisconsin), Norsat International (Ontario), Satcom Global (Canada), Intelsat (US), and Orbit Communication Systems (Israel).
Key Topics Covered
1 Introduction
1.1 Introduction to COVID-19
1.2 COVID-19 Health Assessment
1.3 COVID-19 Economic Assessment
1.4 Objectives of the Study
1.5 Market Definition
1.6 Market Scope
1.7 Currency Considered
1.8 Stakeholders
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Maritime Satellite Communication Market
4.2 Market, by Component and Region
4.3 Market, by Region
4.4 Market: Investment Scenario
5 Market Overview and Industry Trends
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 New Satellite Systems and Data-Intensive Applications to Drive the Growth of the Market
5.1.1.2 Increased Technology Advancements and Less Expensive Technology Solutions
5.1.1.3 Growth in Bandwidth Requirements and Communication Needs
5.1.2 Restraints
5.1.2.1 Lack of Awareness About Advanced Maritime Satellite Services
5.1.2.2 Reliance on High-Cost Satellite Equipment
5.1.3 Opportunities
5.1.3.1 Increasing Demand for Broadband Connections and VSAT Connectivity
5.1.3.2 High-Throughput Satellites to Unlock Cloud and IoT Services
5.1.3.3 Unification of Satellites and Cellular Communication Technology
5.1.4 Challenges
5.1.4.1 Increasing Cybersecurity Attacks
5.1.4.2 Lack of Reliability and Flexibility of Satellite Communication
5.1.4.3 Coping Up With Rapidly Changing Technologies
5.2 Industry Use Cases
5.2.1 Use Case 1: Inmarsat Global Xpress Helped Eukor Car Carriers for Its Fleet of 27 Vessels
5.2.2 Use Case 2: Thuraya Helped Devor Technologies to Bring Reliable, High-Speed Internet Connection to Offshore Maritime Operator
5.2.3 Use Case 3: Viasat Helped M/Y Starfire in Delivering High-Speed Connectivity to Support Luxury Guest Experience
5.2.4 Use Case 4: NSSLGlobal Helped MOL LNG by Providing Reliable Services for Managing Fleet of 15 LNG Carriers
5.3 Impact of Disruptive Technologies
5.3.1 Internet of Things
5.3.2 5G
6 COVID-19 Impact on Maritime Satellite Communication Market
7 Maritime Satellite Communication Market, by Component
7.1 Introduction
7.2 Solutions
8 Maritime Satellite Communication Market, by Solution
8.1 Introduction
8.2 Very Small Aperture Terminal
8.3 Mobile Satellite Services
9 Maritime Satellite Communication Market, by Service
9.1 Introduction
9.2 Tracking and Monitoring
9.3 Voice
9.4 Video
9.5 Data
10 Maritime Satellite Communication Market, by End-user
10.1 Introduction
10.2 Merchant Shipping
10.3 Fishing
10.4 Passenger Ships
10.5 Leisure Vessel
10.6 Offshore
10.7 Government
10.8 Others
11 Maritime Satellite Communication Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America
12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Dynamic Differentiators
12.2.3 Innovators
12.2.4 Emerging Companies
12.3 Strength of Product Portfolio
12.4 Business Strategy Excellence
12.5 Ranking of Key Players
13 Company Profiles
13.1 Introduction
13.2 Inmarsat
13.3 Iridium Communications
13.4 Thuraya
13.5 Hughes Network Systems
13.6 KHV Industries
13.7 Viasat
13.8 Speedcast
13.9 ST Engineering
13.10 NSSLGlobal
13.11 Marlink
13.12 Orbcomm
13.13 Navarino
13.14 Network Innovations
13.15 GTMaritime
13.16 AST Group
13.17 Isotropic Networks
13.18 Norsat International
13.19 Satcom Global
13.20 Intelsat
13.21 Orbit Communication Systems
13.22 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/62qmh7
